Materiality and risk in audit and review engagements
There is increasing recognition of the relevance of materiality and risk to a wider scope of assurance engagements. Learn how to reduce the likelihood of not detecting material misstatements.
Materiality and Risk in Audit and Review Engagement shows you how to:
- assess the different components of audit risk
- translate materiality and risk assessments into substantive work levels
- evaluate misstatements
This course provides examples of industry- and firm-specific factors that may influence the materiality decision and identifies checklists and associated guidance for the determination of materiality and the assessment of risk.
You will learn about:
- the determination of materiality
- assessing the risk of material misstatement
- appropriate responses to assessed levels of audit risk
- test of controls and substantive testing
- evaluating the sufficiency of audit evidence obtained
Topics include:
- steps involved in determining appropriate planning materiality for the audit
- audit risk and the risks of material misstatement
- the application of the concept of materiality during the performance and conclusion of the audit
Who should attend?
- auditors
- risk analysts
- those looking to go back to public practice and refresh their general audit knowledge
